Cross-Region Transfer Multipliers in a Monetary Union : Evidence from Social Security and Stimulus Payments (English)

US federal transfers to individuals are large, countercyclical, vary geographically, and are often credited with helping to stabilize regional economies. This paper estimates the short-run effects of these transfers using plausibly exogenous regional variation in temporary stimulus payments and permanent Social Security benefit increases. States that received larger transfers tended to grow faster contemporaneously, with a multiplier of around 1.5...

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Author

Pennings,Steven Michael;
Document Date
2021/05/01
Document Type
Journal Article
Report Number
161477
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2021/07/12
Disclosure Status
Disclosed
Doc Name
Cross-Region Transfer Multipliers in a Monetary Union : Evidence from Social Security and Stimulus Payments
Keywords
oil-producing state

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Citation

Pennings,Steven Michael.

Cross-Region Transfer Multipliers in a Monetary Union : Evidence from Social Security and Stimulus Payments (English). Author accepted manuscript Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/559331626071176592

Cross-Region Transfer Multipliers in a Monetary Union : Evidence from Social Security and Stimulus Payments (English)

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